Ivanti is to acquire MobileIron – developer of the industry's first mobile-centric security platform – for $872 million, as approved by the firm’s board. MobileIron stockholders will receive $7.05 in cash per share, representing a 27% premium to the unaffected closing stock price as of 24 September.
Secure access solutions provider Pulse Secure will be acquired from affiliates of Siris Capital Group, however, the terms of this transaction were not disclosed.
CEO Jim Schaper, who will continue as CEO and chairman of the combined company, said the deal will create “a leader in the large and growing unified endpoint management, security, and enterprise service management markets.”
He added: “We now have the most comprehensive set of software solutions that address the growing market demand for the future of work, where working from anywhere on any device type is the new normal.
“With the integration of our industry knowledge and complementary product offerings, Ivanti will be well-positioned to provide our expansive customer base with the critical tools needed to tackle IT challenges in the new normal. We welcome MobileIron's and Pulse Secure's employees, customers, and partner network to the Ivanti family and thank Clearlake and TA Associates for their strong support in enabling these transformational transactions,” Schaper continued.
Simon Biddiscombe, CEO of MobileIron, added: “Bringing our solutions together will enable organisations to easily secure users, devices, data and access in the Everywhere Enterprise. We're confident that this transaction will deliver comprehensive security for the next generation workforce, provide enhanced opportunities for our team of employees, and better serve our customer base. Additionally, we believe this combination represents the best path forward for our stockholders and MobileIron.”
